Barclays is hiving off asset management arm

Barclays is hiving off asset management arm


The bank is discussing a sale of San Francisco-based Barclays Global Investors (BGI) asset management operations for about $10 billion, the person said, having drawn a raft of suitors for iShares, the exchange-traded funds unit that is part of BGI. Potential bidders for BGI,  include US money manager Blackrock, the Financial Times said. Bank of New York Mellon is also in talks about BGI, Bloomberg reported. “If a sale of BGI as a whole were on the table at the price north of $10 billion I would regard that as a good price in this market,” said Ian Gordon, analyst at Exane BNP Paribas.

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